After a highly volatile 2020, shipbroker Simpson Spence Young (SSY) looks at the next 12 months and highlights areas of particular interest in their 2021 Outlook Report. The report looks at various drivers of the shipping markets, including…
Many of the world’s biggest lenders to shipping companies fell short of carbon-cutting targets last year in the first analysis of CO2 goals for the sector by financiers, a report showed on Wednesday.Global shipping accounts for nearly 3% of…
Two centuries after the first coal-powered steamships crossed the Atlantic Ocean, a Swedish company is designing a futuristic throwback: a huge, wind-driven cargo ship that could help end the fossil fuel era and limit climate change.Shipping accounted for 2…
Recently, the U.S. Environmental Protection Agency (EPA) finalized a cooperative agreement with the Port of New Orleans to fund diesel emissions-reduction programs. The agreement provides $1,240,247 to replace certain diesel-powered trucks at port facilities in Orleans…
We have known it all along; the bigger the bunker fuel consumption of the ship, the more likely it is that shipowners will choose an SOx scrubber as the tool to comply with the IMO 2020 sulfur cap.Whiles only three Handysize bulkers in total…
Japan, South Korea and a fleet of international shipping groups have warned the European Union against its plan to add greenhouse gas emissions from the maritime sector to Europe’s carbon market.As the 27-country EU seeks to steer its economy towards “net zero” emissions by 2050…
Havyard said that its complete hydrogen system for ships will be completed in 2021, and to that end the group is establishing a separate company to meet market demand for the solution, which will make it possible also for large ships to sail longer distances with zero emissions…
The shipping industry must act now in order to meet U.N. targets to cut carbon emissions by 2050, leading officials said on Wednesday, ahead of a meeting next week that will seek to advance a plan.The U.N. agency the International Maritime Organization…
Cargill, one of the world's biggest charterers of ships, is working with technology partners to fit sails on vessels in its fleet to cut carbon emissions through harnessing wind power, the U.S. agribusiness group said on Wednesday.About 90%…
The successful decarbonization of the shipping industry will require teamwork and cooperation, said ABS Chairman, President and CEO Christopher J. Wiernicki.“Building the future is clearly a team sport – even if not all players see it that way all the time…
Some of the world's biggest commodities and energy players on Wednesday launched an initiative to cut and track emissions from the ships they charter as efforts intensify to reduce the maritime industry's carbon footprint.About 90% of world trade is transported by sea…
Singapore is seeking proposals on the electrification of small vessels known as harbourcraft as the industry transitions towards a low-carbon future, the Maritime and Port Authority of Singapore (MPA) said in a joint statement on Wednesday.The…
Mitsui O.S.K. Lines has paid $253,300 in penalties to the California Air Resources Board for violating the Ocean-Going Vessel At-Berth Regulation, which requires cargo ships to reduce emissions while docked at the state’s busiest ports, including Los Angeles…
The European Parliament on Tuesday voted in favour of including greenhouse gas emissions from the maritime sector in the European Union's carbon market from 2022, throwing its weight behind EU plans to make ships pay for their pollution.Shipping…
Carbon emissions from shipping rose in the six-year period to 2018 and accounted for 2.89% of the world’s CO2, a study released on Tuesday showed, amid growing pressure on the industry to bring levels down.About 90% of world trade is transported…
